The Board of Directors at its meeting held today i.e. Saturday 06th June, 2026, has, inter-alia considered and approved the allotment of 13,30,060 fully paid up Equity Shares of face value ....
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Steelco Gujarat has completed its Rights Issue, allotting 13,30,060 fully paid-up equity shares at Rs. 112 per share (including Rs. 102 premium). The issue raised up to Rs. 1,489.66 lakhs (~Rs. 14.9 crore). The Rights Issue was open from May 25 to June 4, 2026, and the Board approved the allotment on June 6, 2026. As a result, the company's paid-up equity capital increased from Rs. 4.97 crore (49.66 lakh shares) to Rs. 6.30 crore (62.96 lakh shares), a dilution of about 26.8% for existing shareholders.
Existing shareholders will see their stake diluted by roughly 27%, though those who subscribed to the rights maintain their proportional ownership. The Rs. 14.9 crore infusion strengthens the company's capital base, which could support growth or be used for working capital needs.